Market Insights
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Chart of the Day: Arista Networks Has Pulled Back
Arista Networks jumped to a record high last month, and now it’s pulled back. The first pattern on today’s chart is the high-volume jump on May 8 after earnings and revenue beat estimates. Notice how its closing price that day of $291.67 became apparent support on May...
$2 Trillion and Counting: Coinbase Direct Listing Pushes Digital Assets to New Highs
The cryptocurrency market is setting new records again as investors prepare for Coinbase's direct listing tomorrow. The combined value of digital assets passed $2.1 trillion for the first time ever last night, according to CoinMarketCap. It's up about 17 percent in...
Blockchain Early Mover Could Be Squeezing Toward a Breakout: Chart Study
Cryptocurrencies are in focus this week as Coinbase prepares its direct listing tomorrow. Meanwhile, another early mover in the space has some interesting chart patterns: Microstrategy (MSTR). Notice how MSTR has squeezed into an increasingly tight range since its big...
Gold Miner ETF May Be Hitting a Bearish Trend Line
Gold miners are one of the worst-performing corners of the market this year. They've bounced recently, creating a potential opportunity for the bears. This chart of the Market Vectors Gold Miners ETF (GDX) shows the downward-sloping trendline in place since August....
Is a Monster Earnings Season About to Begin?
Stocks could be on the verge of a monster earnings season as negativity fades and the economy shines. Per-share profits could increase as much as 38 percent, according to Factset. That would be the sharpest growth since 2010, when the Great Recession was ending. The...
Small Cap Index Is Holding a Potentially Key Level: Chart Study
The Russell 2000 ETF (IWM) had a strong move coming out of the vaccine news in November. It’s been consolidating for the last two months and now may be ready to continue higher. The main thing jumping out of today's chart is the 50-day moving average. IWM tested it in...
Dead Cat Bounce or Deep Value? Can You Guess April’s Mystery Stock?
2021 has been a year of surprises, with many forgotten old stocks leading the market higher. This month's mystery stock is major example of that trend. It's up 38 percent on the year, more than quadruple the gain the S&P 500. This firm is also the top-performing...
Technology & Communication
Options Alert: Call Buyers Are Piling Into This Recent Tech IPO
Roblox was a prominent IPO in the spring. Now, after a rally and pullback, the bulls seem to be returning. Options traders purchased about 12,000 short-term 13-August 85 calls this morning. Premiums started at $0.40 and quickly shot above $2 as the orders piled in....
Bloom Coming off the Tech Rose?e?
The year 2017 was undeniably dominated by Technology. Megacaps like Apple (AAPL), Facebook (FB) Alphabet (GOOGL) climbed to new highs. Semiconductors giants like Micron (MU) and Nvidia (NVDA) weren't far behind as foundries basked in record orders from datacenters, AI...
Elliot Wave Still Flowing Higher: A Pro’s Insight
Bullish, bullish, bullish. That was the message from a widely followed market pro this morning. "We do have higher highs coming," Bennett McDowell of TradersCoach.com said on today's Morning Market Briefing. "At this time we're in Elliott Wave 3 on the 60-minute...